Building a positive brand is crucial to the long-term success of your business. Your brand encompasses the way your customers perceive you and helps to determine whether you build long-term, loyal relationships with them. A successful brand can help you attract new business and grow your company using a number of different strategies.
Brand extension is the process of taking an already successful brand and launching a new product under the same brand name. Many established brands have used this technique to great success, for example, Chanel. The fashion house has since grown its famous clothing line into makeup and perfumes, introducing new products under an already well-recognised brand name.
One of the most successful examples of ‘attitude branding’ is Apple’s ‘get a mac’ campaign which ran from 2006 to 2009. The brand was personified by a laid back, good looking, well-dressed guy – shown in comparison to a more formal, suit wearing character who identified as a PC. The brand message was that to look cool and ‘of the time’ you had to ‘get a mac’. In 2006 alone Apple recorded an increase in MacBook sales of 39%.
Both Unilever and Proctor & Gamble are examples of parents companies who manage portfolios of individual brands. Managing a range of individual brands allows those companies to be major players across a range of categories from food and drinks to beauty and cleaning products. You might not be enthralled thinking your Dermologica skin care is owned by the same company (Unilever) as Surf washing powder. But by separately branding and marketing those two products, Unilever manages to promote two separate market-leading brands.
Why not get in touch with Bob today, to understand how to build and promote your own successful brand, or to develop a new brand strategy to help you grow your business further.